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The recovery in the Canadian dollar, which continued yesterday has delivered further downside for the USD/CAD right now. The USD/CAD just tested the 1.4300 handle. The US dollar had closed in the US last night at 1.4323. In fact, the pair just traded below 1.4300 a moment ago and that means it is now nearly 500 pips below the high seen at one point on Monday (1.4793). That is one heck of a reversal folks and the question about that move defining what is known in the trade as a Blow Off move was highlighted here yesterday. well, as you can see, the price action since that update has done little to contradict that prospect. The USD/CAD is right now at 1.4297
Well, you were alerted to something rather strange going on this afternoon in Gold and since then the metal has taken another lurch lower. This time...
The US stock markets have not long reopened for the final trading session of the week. It has been a very modestly higher opening across the board...
Given the reaction in the GBP/USD and the USD/JPY after the US sales data you might easily be forgiven for thinking the EUR/USD should be above 1.05...
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